Answer / guest

vat means value added tax ,meaning a tax is imposed at every
level whenever value is added to the commodity.
Input credit is being allowed to registered dealer on the
commodity on which he is liable to charge vat on sales of
the same commodity if he has already paid vat on purchase on
input material for making that commodity.its

The basic purpose of introducing vat is to curb the practice
of dealer of tax evasion on sales & there by making it
advantageous to various parties like Dealers, Consumers,
Govt .Dealers now can claim input credit,three will be
general fall in price of goods because now there will be vat
instead of others taxes & more revenue to govt.


Sales tax is on sales of goods its one point tax . input tax
credit is not available in respect of tax paid at earlier
points.

why profit add in capital in balance sheet

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Hi,when we pass a clearing entry of paid and unpaid tax how do we show the business area the way the business area can be seen.is there any change that i have to do in the configuration of this GL.my client wants that the business area also reflects when we post the gl.please help.

0 Answers   Wipro,

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What are the Interest Rate on Entry tax in UP ??

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How to adjustment of CST ? and also tell me about C-Form affairs ?

0 Answers   Wipro,

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I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.

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Form No.27A, I think it is a TDS oriented Form. But for what purpose and why this Form is use?

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while deducting tds on salary, the amount deducted in the previous month is payable on 7th of the succeeding month to whom?

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what will be my tax if i suddenly got 800000 to 1000000 in my bank by chq from sale of an old house?

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Can TDS be deducted without the minimum exemption. for rent if annual rent is 1,50,000 then calculate TDS.

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Sir please confirm job work sale for clothes shat d1 yes & no

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should we can take modvat benefit any time or they have some limit time to take input benefit claim?

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I am late for deposit the service tax about 120 days. the amount of S.T. is 48115 What is the Intrest on 48115.

5 Answers  

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